Chain store closures slow to 14 each day

THE number of high street shops facing closure has dropped to its lowest level since 2010, a study shows.

But the trend still leaves the UK with an equivalent of 14 fewer chain stores each day. Research in 500 town centres revealed there were 2,564 store closures during the first six months of the year.

Charity shops, shoe stores, gift shops and women’s clothing retailers were the hardest hit, according to analysis of 67,521 chain stores — those with more than five national outlets — compiled by the Local Data Company for PwC.

■ THE pre-Christmas trading season got off to a poor start for retailers, with spending declining last month at the fastest annual pace for over four years, according to Visa’s UK Consumer Spending Index. Clothing and footwear saw a nine per cent year on year decline as overall spending fell by two per cent. Miscellaneous goods and services, which includes jewellery, hair and beauty, rose 6.5 per cent.